Tricks Used to Get You to Spend Your Money

Everywhere you turn, someone is trying to part you from your hard-earned cash.

No matter where you are, or what you are doing, you likely have to confront various tricks to convince you to spend your money.

This includes attempts to upsell you at a restaurant, or to get you to make a purchase right now — just in case you miss out on the opportunity.

Indeed, there are several tricks that can be used to encourage you to spend money that you didn’t exactly mean to part with. In order to keep control of your monthly cashflow, it helps to understand the techniques used to help you feel as though spending money is the right option.

Urgency

Don't need 2? Who cares!

One of the most effective methods of convincing you to spend money is urgency.

A commercial or a salesman might create a sense that if you don’t act now, you will miss out on a great opportunity or bargain.

The idea that something is only available for a limited time, or that only the first few people through the door will be the recipients of a great deal, is compelling.

If you don’t rush out and spend your money, will you have passed up a great bargain or opportunity that won’t come again? Many of us are afraid of losing out, and the urgency appeal is one that plays to that fear.

However, most sales will come around again, and most opportunities will be available again.

Most things aren’t “one time only” — no matter how many times the phrase is repeated. (Remember that urgency is one of the prime tools of scammers, as well.)

Become an Insider

We all like to feel special, and as though we know something others don’t. The feeling of being elite, and having inside information that others aren’t privy to can be heady. Perhaps you are receiving the “inside track” on a new artist or author, and have the opportunity to buy something before it “gets big.”

You deal as though you are in on a secret, and once the secret becomes known, you will benefit from having gotten in on the ground floor. Paying extra to get access to “insider” information can be one way to do it.

However, the insider technique can be a little more subtle. It can encompass paying for more expensive food or wine in an attempt to appear as though you know about “these things.” The idea that spending more indicates that you are paying for quality, or that you are a connoisseur can be appealing to many.

However, if you don’t actually know about the product in question, you might end up just paying more, and getting a product that isn’t substantially better than something less expensive. This is a fine line to walk, and you need to be careful before you shell out extra in the hopes of looking like an insider.

You Deserve It

One of the ways that commercials get you is implying that you deserve something. You deserve a luxury car. Your cat deserves the fanciest food. Your kids deserve the coolest toys. After all, you work hard. You deserve a little extra. And maybe you do. But do you really have the money to afford it?

One of the ways that many people justify their debt is by saying that they afford something — and that they deserve it now, without having to wait to save up. It’s easy to shrug off spending beyond your means if you tell yourself that you deserve it.

What are other ways that you can be persuaded to spend more than you planned, or live beyond your means?

Comments | 3 Responses

When someone puts a deadline on whatever it is they’re trying to sell me (aka the urgency factor) it is a big turn-off. Even bigger is when someone will try to sell me something or get me to do something and go right into the whole ‘OK, well, let’s go ahead and start the process.’ If you haven’t asked me or I haven’t said ‘I want to move forward’ then trying to slide into the purchase is a sure fire way to end the deal right there for me.

These are great points. I can’t believe I didn’t think of any of them when I did my article on advertisers taking advantage of people. These people are really adept at tapping into the psyche of the intended audience. To be honest, I just find a majority of ads and calls to action to be annoying and pay very little attention.

"Rose is particularly good in explaining how to establish and keep good credit; the need for having clear, specific financial goals; how to learn from your mistakes when you go off track; and the best ways to eliminate debt."
-New York Times